December 17, 2020
According to the latest research report titled ‘Alternative Protein Market for Animal Feed By Product, By Livestock Industry Analysis Report, Regional Outlook Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, worldwide alternative protein market for animal feed is expected to register a healthy growth rate through 2026.
As per the report findings, increasing frequency of disease outbreaks among livestock animals in consort with upsurge in demand for quality nutrition feed from owners is fostering global alternative protein market for animal feed. However, stringent regulatory compliances are negatively impacting the business landscape.
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Based on product terrain, soy protein isolate segment is expected to record a yearly growth rate of 7.5% over the forecast timeframe. The product demand is growing as it is a highly functional and easily digestible source of amino acids and proteins. Likewise, soy protein concentrate segment will contribute significantly to the growth of global alternative protein market for animal feed, registering 7.5% CAGR over the same time period. This concentrate is ideal for both animal feed and pet nutrition.
Fermented soy protein segment is projected to expand at 7.3% CAGR through 2026. These proteins are highly preferred in starter diets as fermentation of soybeans eliminates anti-nutritional agents including oligosaccharides and antigens.
Meanwhile, duckweed segment is expected to showcase a CAGR of over 14.5% through 2026 as it functions as an excellent substitute for vegetable based protein and supplements for low protein feeds such as corn.
In terms of livestock, global alternative protein industry for animal feed will expand considerably with aquaculture, equine, and other segments registering 7.5%, 6.1%, and 7% respectively over the projected timeline.
From a regional frame of reference, North America alternative protein market for animal feed is expected to register an appreciable growth rate of 5.4% during 2020-2026, subsequently exceeding an annual valuation of about USD 722.54 million by the end of the study period. On the other hand, Middle East and Africa market will exhibit 6.2% CAGR over the forecast duration and accumulate USD 201.14 million.
Considering the competitive landscape, Sojaprotein, Titan Biotech Ltd., AB Mauri, Lallemand, Inc., Calysta, Inc., Angel Yeast Co., Ltd., Ÿnsect, InnovaFeed SAS, Darling Ingredients, Inc., AgriProtein, CHS Inc., Deep Branch Biotechnology Ltd., Nordic Soya Oy, Archer-Daniels-Midland Company, DuPont de Nemours, Inc., and Hamlet Protein A/S are the top contenders in global alternative protein market for animal feed.